yingli green energy hold-adr (YGE) Key Developments

Yingli Green Energy Holding Company Limited announced at the World Future Energy Summit that innovative CleanARC® anti-reflective (AR) glass coating is now available on all Yingli product lines. Developed by California-based Enki Technology and offered through Yingli, CleanARC® coating enables panels to generate more energy over time while simultaneously reducing cleaning requirements, creating additional project value in comparison to conventionally coated panels. Due to their high resistance to abrasion and environmental degradation, Yingli's CleanARC® coated solar panels are ideal for project sites with harsh environmental conditions such as sandstorms, sea mist, high humidity, and extreme temperature fluctuations. CleanARC® coated solar panels can also reduce operations and maintenance expenses because the coating's structure and hydrophobic properties enable more effective self-cleaning than conventional AR coatings.

Yingli Green Energy Holding Company Limited announced that it completed grid connection for a 10 megawatt (MW) solar power plant in China'sHebei Province in late December 2014. The solar power plant is located in Fuping, a mountainous region in western Hebei Province. It will produce more than 12,000 megawatt-hours (MWh) of electricity per year, which will meet nearly one fifth of Fuping County's residential power demand. Over the project's lifetime, the clean solar power it generates will offset the consumption of approximately 4,000 tons of coal and the emission of about 11,000 tons of carbon into the atmosphere. The project qualifies for a national feed-in tariff of 1.0 RMB (0.16 USD) per kilowatt-hour (kWh) for 20 years, as well as additional incentives from the local government during its first three years of operation. Yingli is currently in negotiations with potential buyers of the project.

Yingli Green Energy Holding Company Limited announced that Mr. Zongwei Li has resigned from his position as executive director on the company's board of directors. Mr. Li joined the company as Chief Financial Officer in 2006, and currently serves as the company's Chief Strategy Officer. Mr. Yiyu Wang, the company's current Chief Financial Officer, will replace Mr. Li as an executive director on the company's board. These proposals have been unanimously approved by the board and are effective as of December 3, 2014.

Yingli Green Energy Holding Company Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter Ended September 30, 2014; Revises Production Guidance for the Fiscal Year 2014; Provides Earnings Guidance for the Fourth Quarter of 2014

Nov 25 14

Yingli Green Energy Holding Company Limited reported unaudited consolidated earnings results for the third quarter ended September 30, 2014. For the quarter, the company reported total revenues of RMB 3,385.206 million compared to RMB 3,649.433 million a year ago. Income from operations was RMB 199.710 million compared to loss from operations of RMB 70.288 million a year ago. Loss before income taxes were RMB 119.118 million compared to RMB 254.281 million a year ago. Net loss was RMB 138.086 million compared to RMB 277.269 million a year ago. Net loss attributable to the company was RMB 122.847 million compared to RMB 235.590 million a year ago. Basic and diluted loss per share were RMB 0.68 compared to RMB 1.50 a year ago. Non-GAAP diluted loss per share was RMB 0.62 compared to RMB 1.45 a year ago. Diluted loss per share and per ADS was RMB 0.68 compared to RMB 1.50 a year ago. EBITDA was RMB 495.729 million compared to RMB 311.466 million a year ago. Operating cash flow inclusively was positive and that continuously improved since the beginning of 2013.
For the fourth quarter of 2014, the company expects gross margin will be in the range from 15% to 17%. For each of the breakdown of fourth quarter 2014, the company expects around 40% of the revenue will be coming from China.
Based on current market and operating conditions, estimated production capacity and forecasted customer demand, the company revises its current PV module shipment target to be in the estimated range of 3.30GW to 3.35GW (including 200 to 240MW shipment for PV systems) for fiscal year 2014, which represents an increase of 3.0% to 4.6% compared to fiscal year 2013.

Yingli Green Energy Holding Company Limited announced that the company will supply 72 megawatts of multi- and monocrystalline solar panels to Solarcentury Holdings Ltd. In terms of the agreement between Yingli and Solarcentury, the company will complete the delivery of approximately 168,000 solar panels by the end of this year. The panels will be installed in projects across the UK. These projects will produce approximately 65,000 MWh of clean solar electricity per year, enough to supply around 21,800 typical UK homes.

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